I’ll keep this simple, as many of us have a lot on our minds as we experience the world grappling with a public health crisis. Once you have looked out for the safety and well being of your employees by implementing work from home, social distancing, and community hygiene, it is critical that you turn your attention to your organization’s future fiscal health. Putting this off may impact, and potentially prevent, your organization from implementing its mission and providing critical services.

We have to look at the financial markets

The dual shocks of COVID-19 and an oil price war have roiled global markets. As of mid-March, the S&P 500 has plummeted over 27 percent since a market high on February 19, 2020. Uncertainty is likely to continue as the dual shocks on the global economy are increasing the probability of recession. Keep this idea of uncertainty in your back pocket, as we will return to it soon.

We just saw this

Again, with the focus on financial markets, we’ve seen this before and not too long ago. Remember the global financial crisis (GFC), aka the Great Recession, of 2007-2010? Of course you do. It took well into the last decade for most to recover; and, in some cases, organizations and communities never recovered.

For the nonprofit sector, the GFC wreaked havoc on donations and budgets…

Technological advancements have fundamentally changed the way people live, and they will continue to do so. These changes have significant consequences for how organizations connect with donors, clients, partners, and employees. According to Pew Research Center, a whopping 96 percent of Americans now own a cell phone, and the share that own smartphones is now 81 percent—up from just 35 percent in 2011.

Roughly one in five Americans have abandoned broadband Internet altogether and now exclusively use their mobile device. Notably, this isn’t just a trend for younger generations. 96 percent of those aged 30-49 own smartphones along with 79 percent of 50-64 year olds. In an article in Nonprofit Quarterly, Holly Ross said society’s implementation of technology has altered expectations of responsiveness, internal visibility, and the lure of newness and innovation. Bottom-line: the nonprofit sector must adapt.

Leveraging technology is about strategically selecting tools that will advance an organization’s mission. Mobile technology includes all portable communication devices, such as smartphones, tablets, or smartwatches, that connect to Internet or cellular data and can be used to increase trust and transparency, fundraise, story-tell, and work more efficiently.

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Many charitable nonprofits rely on the help of volunteers to fulfill their missions. Whether it be packing food boxes, mentoring youth, or assisting with general office work, volunteers contribute valuable time and energy to help organizations succeed. Implementing management practices allows organizations to recruit and retain volunteer resources, but many nonprofits struggle to successfully engage volunteers and reap the full benefits of their service. By effectively managing and engaging volunteers, organizations can save costs, increase community support, and build their capacity to operate efficiently and sustainably.

Engaged volunteers feel connected to the organization and are more easily retained, allowing nonprofits to benefit from volunteer contributions over longer periods of time. Building relationships with volunteers and unlocking additional ways they may be willing to support the cause helps an organization develop its capacity to fulfill its mission. Implementing strategic engagement initiatives designed to leverage the assets of volunteers expands a nonprofit’s ability to maximize its social impact.

Nonprofits should consider engaging volunteers as leaders, donors, and advocates to grow their commitment to the organization, boost retention, and build organizational capacity. In order to cultivate volunteers to contribute in these ways, a strong foundational volunteer program must be in place.

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A few months after I graduated from high school, I found myself finishing a 40-mile-long grueling ruck march and receiving the yearning green beret. That was not the finish line but the beginning of service that continues today. Along the way, I served different organizations and worked hard for the success of the mission. However, one thing never changed: the need to master practices that have been proven to work and enable me to lead from wherever I am, as a sergeant first class or a nonprofit employee.

As an Israel Defense Forces veteran, I relate to Jim Collins’ West Point talk about the ethics of service, commitment to a cause bigger than yourself, the understanding that you could die while serving and meaningful insight that the pursuit for greatness is a journey that never ends. Lisa Joslin says, “creating organizational change is not the same as leadership. It is, instead, a byproduct of leadership, and leadership must come first." I believe that it starts with leaders that empower others to make the act of leadership.

In his talk Collins said, “Every good-to-great transition in our research began with a Level 5 leader…

Nonprofit employees are starting to show sector-switching intent, which affects the retention of nonprofit organizations. Understanding what positions need to be filled, hiring and training all require a large amount of resources. After all that, the goal is that an employee will remain long enough to become a worthwhile return on investment, according to John L. Lipp in “Keeping the Volunteers You Have.”

While salaries can influence the retention and recruitment of employees, a potential employee’s intrinsic motivations related to the mission and social connection to the organization also relates back to the satisfaction of that employee with their jobs.

Meeting the following motivations can lead to a successful retention program for nonprofits.

Monetary motivations

Monetary motivations correspond with the most basic level of human needs according to Maslow’s Hierarchy. Compensation covers the material safety needs of employment, property and health. It should be noted that not any compensation will be acceptable for employees. They need to be able to meet the needs of the local environment and their living situation in order to be able to accept a position.

To better meet monetary motivations of employees, try implementing some of the following methods.

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